Midwest city ranks as hottest in 2024 housing market despite mostly cloudy weather

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FILE: Superstar realtor gets real about weather

Realtor Ryan Serhant talks about all things real estate and why to take weather into account when searching for your dream home.

TOLDEO, Ohio – As you prepare to purchase a new home in the upcoming year, remember that the housing market with the most potential for growth may not have the sunniest outlook.

Realtor.com's 2024 Top Housing Markets forecast named Toledo, Ohio, as the top housing market among the largest 100 markets in the U.S. 

The city, with a population of 270,000 people, has rather gloomy weather. According to Shane Brown, senior weather data specialist at FOX Weather, the city ranks within the top 10 cloudiest cities in the U.S., with an average of 185 cloudy days per year. The cloudiest period of the year is December to February.

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Toledo, Ohio, ranks within the top 10 cloudiest cities in the U.S. with an average of 185 cloudy days per year.

(Adobe Stock)

It's not just overcast skies that might put a damper on your move-in day. On average, Toledo experiences 133 days of rain per year, with an annual rainfall of 39.97 inches.

According to Brown, the wettest month is May, with an average of 3.82 inches of rainfall, while the driest month is February, with an average of 2.28 inches. The single wettest day ever recorded in Toldeo was on Sept. 4, 1918, with a total rainfall of 5.93 inches.

Ohio is known for its continental climate characterized by hot, humid summers and cold winters. 

The summer season in Toledo is generally warm, with temperatures seldom exceeding 100 degrees, Brown noted. However, the highest temperature ever recorded in the city was 105 degrees on July 14, 1936.

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A look at the Toledo, Ohio, downtown skyline on the Maumee River at dusk.

(Adobe Stock)

On average, the region experiences 19 days per year with temperatures at or above 90 degrees, with the highest number of such days being 44 in 1988, according to Brown.

During winter, the temperatures can drop quite low. The all-time coldest temperature in the city was -20 degrees on Jan. 21, 1984.

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A car navigates down an icy road, December 9, 2005 in Toledo, Ohio. Seven inches of snow fell overnight marking the first significant snow fall of the year.

(J.D. Pooley / Getty Images)

Although the weather conditions in Toledo may not always be favorable, the top markets in the Midwest and Northeast are comparatively more affordable, according to Realtor.com. The top five markets in these areas, except Worcester, Massachusetts, have median listing prices that are lower than the national average.

Despite current housing market conditions, 76% of first-timers think this dream is still possible.

"Now that we’re seeing the beginning of an affordability turnaround, home buyers are still looking for markets where they can capitalize on lower prices," said Realtor.com Chief Economist Danielle Hale. "Even in some of the more expensive markets, we’ll see double-digit sales growth as sales start to rebound from their historic lows, helped by mortgage rates which are expected to finally relent."

Click here for the full ranking of the 100 largest U.S. markets.